Saxo Bank to switch to new P/L calculation method in Jan 2016

Saxo Bank to switch to new P/L calculation method in Jan 2016

Danish multi-asset trading and investment company Saxo Bank said on Tuesday it will introduce a new method for calculation of profits and losses on open forex positions in all of its platform from 18 January, 2016. Profits and losses on forex positions will soon be calculated using the actual Bid or Ask close price instead of the mid-price.

The new side-based calculation method will use bid values for long positions and ask values for short ones.

The broker said the change will allow for a more accurate representation of profit or loss on traders’ accounts.Saxo Bank P/L calculation

Saxo Bank offers forex services via the platform SaxoTrader (for advanced traders) and SaxoTraderGO (for investors and traders). SaxoTrader is available as a softoware for Windows, while SaxoTraderGO can be used via any HTML5 web browser on all device types.

Saxo Bank is headquartered in Denmark ‘s Copenhagen and operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa. The bank is licensed and regulated by the Danish Financial Supervisory Authority (FSA) and has units that are fall under the regulation of a number of other regulatory bodies worldwide.

Saxo Bank acts as a Market Maker and has 30,000 financial instruments available on its platforms, including forex, binary options on forex and stocks and contracts, ontracts for difference (CFD), stocks, futures, and bonds, among others.

Source: Saxo Bank Cyprus

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